{"id":18037,"date":"2011-01-13T07:56:16","date_gmt":"2011-01-13T12:56:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18037"},"modified":"2011-01-13T07:56:16","modified_gmt":"2011-01-13T12:56:16","slug":"crude-oil-approaching-92-30-level","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/13\/crude-oil-approaching-92-30-level\/","title":{"rendered":"Crude Oil Approaching $92.30 Level"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/en\/trading\/crudeoil\">Crude oil <\/a>prices  rose significantly in the last week and peaked at $92.30 per barrel.  However, the 8-hour chart is suggesting that a recent upwards trend is  loosing steam and a bearish correction is impending. Forex traders  involved with commodities like this can take advantage of this knowledge  by going short on crude oil now, and at a great entry price!<\/p>\n<p>\u2022\tBelow is the 8-hour chart for crude oil by ForexYard.<\/p>\n<p>\u2022\tThe technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic<\/a>, <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic <\/a>indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 3: The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI <\/a>signals that the price of this pair currently floats in the over-bought territory, suggesting downward pressure.<\/p>\n<p>\u2022\tPoint 4: Williams Percent Range also supports the downward direction.<\/p>\n<p>Crude Oil 8-Hour Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/crude-oil-13-1-2011.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/crude-oil-13-1-2011.JPG\" alt=\"\" width=\"506\" height=\"623\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                                                                                                                                                                   may              not             be                                          suitable                     for                   all                                                                    investors.                                      There                         is        a                                                                                                                  possibility                                           that                                                        you                                    could                                                  sustain  a                      loss                                 of            all                        of                              your                                                                                                        investment            and                                                                                      therefore            you                                                                     should                    not                                                  invest                                                  money                    that                          you                                                                  cannot                                              afford        to                                                        lose.                You                                                               should                         be                                aware                     of                                            all                             the                           risks                                                                                      associated                                 with                                          Foreign                                                           Exchange                                                                    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crude oil prices rose significantly in the last week and peaked at $92.30 per barrel. However, the 8-hour chart is suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. Forex traders involved with commodities&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-18037","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=18037"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18037\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}